ConocoPhillips’ first earnings report after spinning off its refinery business underlines the resurgence of oil drilling in rich nations. While reporting a reduced profit of $2.3-billion (U.S.) for the second quarter on Wednesday, the U.S. energy company made much of rising production in the United States and other developed economies. The trend reflects a renewed focus on resources in the rich world as opposed to emerging markets.
Source: The globe and mail
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